Solar Panel Cost Guide in Lancaster, NY (Mar 2023)
- Lancaster Solar Installation Cost: $9,458
- 25-Year Savings: $5,694
- Payback Period: 15.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lancaster
Here's how much it might cost to switch to solar power in Lancaster.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lancaster, the typical cost of solar panels is 2.95 per watt. Since a 4.6-kW system is needed to cover the energy needs of a typical home in Lancaster, the average price of going solar will be about $9,458 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Lancaster homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large upfront cost, the average Lancaster homeowner can save around $13,000 on their power bills over 20 years, which is one of the advantages of solar.
To get a free quote from a highly rated solar company in Lancaster, you can click the button below.
Solar savings over time in Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-8,852 |
| 3 years | $-7,639 |
| 5 years | $-6,427 |
| 7 years | $-5,215 |
| 9 years | $-4,003 |
| 11 years | $-2,791 |
| 13 years | $-1,579 |
| 15 years | $-367 |
| 17 years | $845 |
| 19 years | $2,058 |
| 21 years | $3,270 |
| 23 years | $4,482 |
| 25 years | $5,694 |
Top Solar Installers in Lancaster
Installing solar panels by yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for your family.
If you're on the hunt for a solar company in Lancaster, the EcoWatch team has put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lancaster
Factors that Affect Solar Panel Costs in Lancaster
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,950. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lancaster average.
Solar Financing Terms
Most solar installers in Lancaster offer solar loans, which reduce your upfront costs of installing solar. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Lancaster, you'll have many options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Lancaster have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.07 | $12,886 | $6,974 | 16.2 years |
| 8 kW | $3.01 | $16,850 | $9,629 | 15.9 years |
| 10 kW | $2.95 | $20,650 | $12,449 | 15.6 years |
| 12 kW | $2.89 | $24,284 | $15,435 | 15.3 years |
| 14 kW | $2.83 | $27,754 | $18,585 | 15.0 years |
| 16 kW | $2.77 | $31,058 | $21,901 | 14.7 years |
| 18 kW | $2.71 | $34,196 | $25,382 | 14.3 years |
| 20 kW | $2.66 | $37,170 | $29,028 | 14.0 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lancaster, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lancaster?
The average cost of solar panels in Lancaster is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.